Overhaul outdated tax system to match modern economy, Chancellor told

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Rummaging around for more taxes: Philip Hammond will need to raise more money to 'end austerity' and balance the books, but economists believe the best way to achieve this is with a comprehensive review of the entire tax systemCredit:
HENRY NICHOLLS/REUTERS

It is particularly crucial as Philip Hammond will need to bring in more money to fulfil the Conservative's promise to ‘end austerity’ while staying on track to balance the books in the mid-2020s. He is due to deliver his latest Budget on Monday.

“If you try to plug the gap by raising income tax or VAT, the type of increase you need is simply too...